Reset your property investment philosophy to achieve your lifestyle goals
One of the first things I learned was that successful property investors do things differently. They don’t do everything themselves. They get professionals to help them. This strategy is the basis of my Set and Forget investment philosophy. If you employ the same approach, you’ll find that property investment treats you well. It will give you the time to spend on more important things – being a better spouse, parent, friend, sibling, or contribute more to the community, for example.
With a Set and Forget philosophy at the heart of your investments and life, you’ll be wealthier in more ways than you can imagine, and not only in financial terms.
Why should you Set and Forget invest?
I’ve always maintained that the only reason to invest in property is to give you a better lifestyle. You want to be able to relax, enjoy life, and spend time with your family and loved ones.
The last thing you want is the constant stress of managing your tenants and your properties. You don’t want or need the worry of chasing people for their rent or dealing with minor maintenance problems 24/7. Remember, I’ve been there, and speak from experience. The art of great property investment is to delegate all these tasks to professionals who are equipped to do them.
When you Set and Forget invest, you are left with the big picture to take care of, and the time to enjoy your life the way you should.
What is Set and Forget property investment?
Set and Forget is simply a way of investing and managing your property so that it disrupts your life as little as possible. It is both a strategy and a philosophy. It creates efficiency in your portfolio. When you use the Set and Forget strategy, you get to claim back your time.
Set and Forget is a strategy that gets your property portfolio up and running how it should – on auto-pilot, and needing only a little input at regular intervals from you.
What Set and Forget is not
The name Set and Forget shouldn’t be taken as a literal interpretation. It’s not a strategy that allows you to ignore, reject, leave, take no responsibility for or hope for the best. The success of your portfolio is still your responsibility. It’s simply that once you have set up your portfolio, you will be able to forget it on a day-to-day basis.
How do you employ Set and Forget?
Putting Set and Forget into practice is easy. Let’s start with what happens with a buy-to-let property after you become the owner.
When you buy a property to let to tenants, employ a professional and competent investment property manager to do the day-to-day landlord stuff. After all, do you want to be tied down by the hassle of fixing broken toilets, or the problems of finding new tenants?
Leave property management to the professionals. They’ll do a better job, and provide 24/7 cover for 365 days of the year. No more worrying about your property while you’re on holiday with the family. No more disrupted sleep, with a 3 am phone call complaining of a dripping tap.
Set and Forget to invest in property
I also use Set and Forget during the process of property investment. For example:
- Instead of doing all the legwork myself, I use professional research to inform my decision-making. They have better access to quality data than the average investor. The insights this type of analysis gives is invaluable when seeking the best places to invest in property UK.
- I don’t spend countless hours making phone calls and attending appointments with mortgage lenders and banks. I don’t trust mortgage comparison sites, either. Most are biased towards those lenders that pay them to ‘advertise’ mortgage products. Instead, I reap the benefits of using a buy-to-let mortgage broker.
- When I invest in off-plan property, I have a sales progression team do the donkey work for me. They chase developers, solicitors, and mortgage brokers. I get on with my life and receive regular reports to keep me updated. Easy. Less stress, and more time for me.
Is this so different from how you live your daily life? Think about when, how, and why you use professionals now. For example:
- If your central heating fails, you’ll employ a plumber
- If your car breaks down, you’ll have a mechanic work on it
- You trust a bank with your money on a daily basis
- You may even trust someone else to do your weekly shopping for you and then have it delivered to your door
Learn to use other people’s time as well as other people’s money as a property investor, and success is just around the corner.
Are you ready to Set and Forget?
Someone once told me, “Time is the most precious commodity of all, and weighs most on those who have least of it.” Don’t wait until the time runs short, but instead act now.
The first step to Set and Forget is the mindset; the desire to make a better life for you and those around you. To see it through successfully, though, you need to put into place the systems that allow Set and Forget to work its magic. Just like using other people’s money to invest, and taking advantage of the benefits of leveraging in property investment. Except that you are using other people’s knowledge, experience, and expertise to leverage your investment performance and your free time.
Investing in off-plan property could be the most lucrative investment you ever make. But you must be prepared for all eventualities. To discover how we have helped hundreds of foreign investors profit in the UK property market, contact one of the Gladfish team today on +44 207 923 6100. You could soon be making a life-changing investment in off-plan property.
Live with passion,
Brett Alegre-Wood
